Datassential, a Chicago, IL-based provider of data, intelligence and market research to the foodservice industry, received a growth investment from Spectrum Equity.
The amount of the deal was not disclosed. As part of this transaction, Jeff Haywood, Mike Farrell and Michael Radonich of Spectrum Equity will join Datassential’s board of directors.
The company will use the funds to expand its client services team, staff of analysts and experts, sales and marketing capabilities and its product offerings.
Led by Jack Li, Datassential provides food trend data, consumer and operator insights, and brand data that enables food manufacturers, food retailers, chain restaurants and consumer packaged goods companies to innovate and sell more effectively.
With the company’s solutions, clients can track food trends and consumer preferences at the ingredient level with accuracy, ideate new products in real-time, identify top-selling opportunities and answer custom questions based on context-rich industry insights.